Weekly Cash Comments
Cash Commentary for week of March 27th
Corn grain basis was unchanged for the week, while soybeans posted a 2-cent advance.
In corn, basis levels were up one-cent a bushel at the Gulf export market, but river terminals were on average unchanged for the week.
Grains Mixed on Friday with Traders Eyeing Tuesday’s Reports
The grains are mixed this morning with most traders eyeing the next Tuesday's reports.
In the overnight session the grains were mixed with corn down 3/4 of a cent, soybeans down 2 3/4 of a cent and wheat up 4 cents going into this morning’s pause. Traders are eyeing two market moving reports that will be released next Tuesday the 31st which include the planting intentions...[Read More]
Missed Export Sales Expectations
Analyst expectations for wheat and soybeans were off by 70 and 40%. Cody looks at the current and long term effects of these miscalculated numbers.
Will this week’s soybean sales lift the market?
Soybean sales beat expectations in a big way this morning with a reportable new crop sale on top of the strong weekly sales report. Can it lift the market in the day session?
In the overnight session corn fell 3/4 of a cent, soybeans dropped 2 3/4 cents and wheat increased 1 1/2 cents. The dollar pulled back one third of a percent and crude oil is trading up a dollar this morning. This morning there was a reportable sale of 280,000 metric tons of soybeans to...[Read More]
During a quite trade day, Cody looks to acreage projections, ethanol production, and the daily charts as an indication of where grain prices might be headed.
How many acres will be planted to Soybeans?
The grain markets are awaiting the quarterly grain stocks and the prospective plantings report due out on Tuesday next week. Here's what the market is expecting.
The overnight was a quiet trade with corn unchanged, soybeans up 1/4 cent and wheat down 3 1/4 cents. The dollar is trading lower by nearly 3/4 of a percent and crude oil is up 34 cents. This morning there were a couple reportable sales that were announced by FAS for 108,863 metric tons of...[Read More]
Wheat Rally Breaks
Cody and Kevin talk about wheat's move lower and what they expect soybeans to do during the second half of the week.
Grains find resistance after two day rally
The grains ran into some selling pressure in the overnight as each commodity tests resistance levels on the daily chart.
In the overnight session the grains found some selling pressure near resistance levels. Corn is down 1/2 cents, soybeans are down 3 cents and wheat is down 8 1/4 cents on the day. The Dollar index is trading slightly higher this morning and crude oil is lower by a percent.
Corn is...[Read More]